Smart Grid Watch

Big Data Analytics: Different Industries, Common Opportunities

Modern IT systems can supply an avalanche of disparate data that can guide -- or confuse, or drown -- a utility. The solution is good big data analytics.

A May 7 panel at the Siemens Smart Grid Software Leadership Conference will explore how three industries (healthcare, entertainment, and utilities) are using big data analytics to guide their respective enterprises toward a more prosperous future.

What"s the big deal about big data, as far as utilities are concerned?

Johnson: We"ll broaden the scope of this session beyond the typical big data conversation. We"ll explore how various industries are leveraging technology and customer interaction to transform their business. How can we create new customer and business value through technological advances?

Technology is not just driving the creation of data, but is optimizing service delivery and customer value with data-driven services.

How are the industries represented in this panel using big data analytics to create new services for customers?

Johnson: The healthcare industry is using data mining to support new diagnostics and treatment methodologies -- including remote diagnostics. They"re also providing patients with more information about their health, and they"re securely providing access to data to other parties that also provide healthcare-related services to patients and healthcare providers.

Meanwhile, Disney is focusing on how to use big data analytics to optimize their operations and maximize "customer delight." They want to create better customer experiences for their theme parks, in part through data gathered via tools like their magic bands.

What big data lessons can utilities take from these industries?

Johnson: We have so many things in common with these industries. What"s holding the utility industry back when it comes to leveraging big data to maximize the delivery of value to customers and optimizing enterprise?

Yes, utilities do face considerations such as privacy and regulators -- but then, look at healthcare. Is there anything more private or regulated than that?

We need tools, people, and policies to capitalize on big data to generate a better customer experience. We"ll explore how utilities can learn from others.